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Tesco opens landmark development

Tesco opens landmark development Tesco, the largest retailer in the UK by market share and also by sales, is aggressively tailoring its development strategies in China by adding freehold multiplexes with shopping centers, hypermarkets, entertainment venues, apartments and home offices. With an investment of more than 500 million yuan, Tesco\'s first 76,000 sq m freehold multiplex in Qingdao, Shandong province, opened its shopping mall, hypermarket and restaurants to shoppers during the...

Haier pins hopes on Japan sales

Haier pins hopes on Japan sales ? Workers carrying a box containing a Haier product in Tokyo. The appliance maker expects robust sales as demand for refrigerators and washing machines grows in Japan. [Bloomberg News] Haier Group, the world\'s biggest refrigerator and washing machine maker by volume, said Japanese demand will help sustain sales-growth "momentum" this year after revenue grew more than 10 percent in 2009. The appliance maker, based in Qingdao, eastern China,...

China Eastern expands fleet size

China Eastern expands fleet size China Eastern aircraft at Beijing Capital International Airport. The firm will soon expand its international flights. [China Daily] China Eastern Airlines, the nation\'s third largest carrier, has agreed to buy 16 Airbus A330 planes, which analysts see as an ambitious move to expand further into international markets. The two companies finalized the deal on Monday, China Eastern Airlines said in a statement yesterday to the Shanghai Stock Exchange. The...

Shaolin Temple not to go public: abbot

Shaolin Temple not to go public: abbot The abbot of China\'s famed Shaolin Temple said Thursday that the temple will not be listed in the stock market. In addition, Shaolin Temple will not become a shareholder or join in the business operation of the newly established tourism company in Dengfeng City of Henan Province, where the temple lies, Shi Yongxin said at a press conference. The legal rights and interests of Shaolin Temple had been well protected according to Chinese laws of religious...

China BlueStar starts coinstruction of largest RO membrane project

China BlueStar starts coinstruction of largest RO membrane project China National BlueStar (Group) Co., Ltd. began construction of China\'s largest reverse-osmosis (RO) membrane project in Beijing Monday. China BlueStar holds 49.9-percent and Toray a 50.1-percent stake in the project. The investment totals 530 million yuan (77.60 million U.S. dollars), according to BlueStar Co.. The plant is scheduled to go into production in October 2010 with an annual production capacity of 6.18 million...

CHICO to expand operations in Liberia

CHICO to expand operations in Liberia A Chinese company operating in Liberia Monday has unveiled its plans for the West African nation, promising to expand its operations?in the mining, agriculture, and electricity sectors. China Henan International Cooperation Group of Companies Limited (CHICO) said although it came to Liberia under an agreement reached with the World Bank and the government of Liberia to construct and rehabilitate roads, it has already began mining exploration in the...

Daewoo in Myanmar gas deal

Daewoo in Myanmar gas deal A consortium led by South Korea\'s Daewoo International will invest about $5.6 billion to develop Myanmar gas fields as part of a 30-year natural gas supply deal with China, a group member said yesterday. The investment comes just a week after China signed a $41 billion liquefied natural gas import deal with Australia. The Myanmar gas development plan will allow the consortium to supply natural gas to China\'s top oil and gas firm, China National Petroleum Corp...

Cosmetics firm Elizabeth Arden expands in China

Cosmetics firm Elizabeth Arden expands in China US cosmetics magnate Elizabeth Arden Inc is expanding its makeup and skin care counters to China\'s second-tier cities, even as it penetrates deeper into existing markets in more affluent cities such as Beijing and Shanghai. "We have gone to all the key cities in China and are already in some second-tier cities, where we think consumers have a need for prestige beauty products," said Sebastian Clifton-Welker, the Asia Pacific &...

Google China chief clarifies rumors

Google China chief clarifies rumors As rumors flew following Google China\'s ?President Kai-fu Lee\'s resignation last Friday, Lee said in his blog his reason for leaving was because his new job is "overwhelmingly exciting!" "I work hard, not because I am poor, but because of my passion for work. To create my new company I will again undergo a process of building up a new career from nothing," Lee wrote in his blog on sina.com on Sunday. He also denied in the article any...

Traffic jams good for China TransInfo

Traffic jams good for China TransInfo A new series of GPS (Global Positioning System) sensors are displayed at the International Auto Accessories Exhibition held in Beijing recently. China TransInfo has just launched multi-city, real-time traffic information services based mainly upon GPS sensors installed in cars and along roadsides. [CFP] Traffic jams that can be a daily nightmare for big city commuters are proving a business opportunity for China TransInfo Technology Corp. China...